MarketFriction

Piramal Finance Ltd

NSE PIRAMALFIN · BSE 544597 · Housing Finance Company
₹2,023.30 -1.01%
NSE close2026-10-01
52 week range1,260.00 - 2,326.40
Market cap₹50,343 Cr.
P/E112
Nifty 500Midcap 150 Price band 20% Delivery 55.9%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Dec 2022Mar 2023Dec 2023Mar 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,7511,6401,6891,7172,3652,8252,8542,6392,8722,9183,4243,368
Expenses1,5709667292,7809361,3741,5379199229831,9781,296
Operating Profit181674960-1,0631,4291,4511,3171,7211,9491,9351,4462,073
OPM %10%41%57%-62%60%51%46%65%68%66%42%62%
Other Income7-10,250-1,8552491215826912911961,377160
Interest8348489289991,3051,3641,4171,4921,5671,6461,6741,734
Depreciation22373845555453571445764556
Profit before tax-668-10,461-1,862-1,85819091116301249328505443
Tax %-523%-14%-31%-60%14%57%12%8%-31%-22%1%-4%
Net Profit2,824-8,982-1,282-75216339102276327401502461
EPS in Rs1.32-4.20-0.60-0.320.070.020.040.1114.4217.6922.1420.34
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,83511,46510,84912,8829,5588,7716,0396,6446,72910,37511,90312,582
Expenses1,1961,4771,4134,49621,82428,6211,8595,6604,9154,6084,8015,178
Operating Profit6,6399,9899,4368,386-12,266-19,8504,1809841,8145,7677,1027,403
OPM %85%87%87%65%-128%-226%69%15%27%56%60%59%
Other Income4641-221932-62-10,210-1,6183731,5631,644
Interest5,4926,6747,7449,4175,7362183,3373,4703,6595,2826,3796,621
Depreciation3043285179815297152214903902
Profit before tax1,1213,2761,706-1,104-18,063-20,117728-12,794-3,6166451,3831,525
Tax %34%15%27%-11%-26%-25%26%-42%-45%25%-9%
Net Profit7492,8061,263-966-13,456-15,051540-7,401-1,9754851,5061,691
EPS in Rs25.6889.6240.28-30.78-428.77-479.610.25-3.46-0.850.1966.3674.59
Dividend Payout %31%4%14%0%0%0%0%0%0%0%17%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%6%21%18%
Compounded Profit Growth-11%15%-56%-23%
Stock Price CAGR22%%%%
Return on Equity%5%1%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital14629231331431431431421,36521,36523,3654545
Reserves4,8365,0987,4178,6847,624-5,860-20,959823-6,584-8,47027,05128,103
Borrowings48,88161,05081,51191,97996,81290,41289,85146,41641,23345,68065,57779,989
Other Liabilities1,5672,8053,0485,3671,8539641,15311,0366,2535,2832,2712,409
Total Liabilities55,42969,24592,290106,344106,60285,83070,35979,64062,26665,85894,943110,546
Fixed Assets19150821185086592094010,8201,6161,7683,2682,352
CWIP81059063412910410501241043116
Investments1,7511,81113,5098,1202,4983,8818,44913,85112,9668,30712,5399,814
Other Assets52,67766,33677,93697,245103,13580,92460,97054,95647,68155,77379,09498,264
Total Assets55,42969,24592,290106,344106,60285,83070,35979,64062,26665,85894,943110,546
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-12,272-12,582-15,593-18,136-8,73512,5767,1358,6616,723-1,928-8,119-15,892
Cash from Investing Activity-86624-10,9306,0916,135644-4,52676472-816-4712,631
Cash from Financing Activity12,64315,41626,28911,1731,937-7,6310-8,366-9,4872,77311,62512,393
Net Cash Flow-4962,858-234-872-6635,5892,6091,060-2,691293,035-869
Free Cash Flow-12,315-12,710-15,693-18,319-8,82012,5567,1398,6156,694-2,149-8,160-15,949
CFO/OP-220%-184%-148%-188%-99%-103%-36%217%683%-106%-141%-224%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days11100100000000
Inventory Days
Days Payable
Cash Conversion Cycle11100100000000
Working Capital Days-585-661-346-421-623834-495-230-1787184
ROCE %11%10%10%8%-13%-26%6%1%3%8%6%
Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2025Dec 2025Mar 2026Jun 2026Aug 2026
Promoters39.21%39.21%39.21%39.21%39.21%39.21%39.21%46.16%46.16%46.16%46.16%44.22%
FIIs6.45%3.15%2.89%2.47%2.47%1.92%0.25%15.10%15.57%14.63%15.45%15.72%
DIIs3.50%3.46%3.45%3.45%3.45%3.45%3.45%14.46%16.26%18.80%18.63%21.21%
Public50.84%54.18%54.45%54.87%54.87%55.42%57.09%23.78%21.59%20.10%19.54%18.64%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.49%0.41%0.30%0.22%0.20%
No. of Shareholders3,39,4223,35,4743,35,2923,25,7783,26,7693,34,2603,48,0062,31,5642,09,5292,01,8731,97,9261,95,055

Fundamentals

Market Cap₹ 50,343 Cr.
Current Price₹ 2,128
Stock P/E112
Book Value₹ 1,242
ROCE6.47 %
ROE0.86 %
Dividend Yield0.52 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)-23%
Consolidated figures.
Valuation
Market capRs 45,869 Cr
Enterprise valueRs 120,290 Cr
P/E (TTM)27.13x
Price to book1.63x
Price to sales3.65x
EV / EBITDA13.30x
EV / EBIT14.77x
EV / sales9.56x
Earnings yield3.69%
Dividend yield0.54%
P/E, 3-year average27.65x
P/B, 3-year average2.05x
P/E, 5-year average46.85x
P/B, 5-year average2.03x
Profitability
Operating margin (excl. other income)59.66%
Operating margin (incl. other income)72.79%
EBITDA margin71.91%
Pre-tax margin12.12%
Net profit margin13.44%
Net margin, latest quarter13.69%
ROE5.45%
ROCE7.73%
ROA1.46%
ROE, 3-year average-1.85%
ROCE, 3-year average5.18%
ROA, 3-year average-0.34%
ROE, 5-year average4.89%
ROCE, 5-year average1.30%
ROA, 5-year average-2.15%
ROIC (approx.)8.65%
Tax rate-8.90%
Other income / net worth5.55%
Growth
Sales growth (latest year)14.72%
Profit growth (latest year)209.88%
Sales CAGR, 3 years21.46%
Sales CAGR, 5 years6.30%
Sales growth QoQ-1.63%
Profit growth QoQ-8.13%
Sales growth YoY (latest quarter)27.62%
Profit growth YoY (latest quarter)66.80%
Per share
EPS (TTM)Rs 74.57
EPS (latest year)Rs 66.36
EPS (latest quarter)Rs 20.33
EPS, 3-year averageRs 32.76
EPS, 5-year averageRs 15.57
Book value per shareRs 1,241.66
Sales per shareRs 554.98
Cash flow per shareRs -701.02
Free cash flow per shareRs -703.52
Dividend per share (latest year)Rs 10.97
Dividend per share, 3-year averageRs 10.97
Dividend per share, 5-year averageRs 10.97
Dividends
Dividend payout16.53%
Dividend payout, 3-year average16.53%
Dividend payout, 5-year average16.53%
Efficiency
Asset turnover0.11x
Fixed asset turnover5.06x
Debtor days0 days
Debtors turnover917.03x
Cash conversion cycle0 days
Working capital days84 days
Leverage
Total debtRs 79,989 Cr
Cash and bankRs 5,568 Cr
Net debtRs 74,421 Cr
Debt to equity2.84x
Net debt / EBITDA8.23x
Interest coverage1.23x
Owners' fund to total sources25.46%
Debt to assets72.36%
Cash flow
Cash from Operating Activity (latest year)Rs -15,892 Cr
Cash from Investing Activity (latest year)Rs 2,631 Cr
Cash from Financing Activity (latest year)Rs 12,393 Cr
Net Cash Flow (latest year)Rs -869 Cr
Free cash flow (latest year)Rs -15,949 Cr
FCFE (approx.: FCF + change in debt)Rs -1,536 Cr
Statement figures
Net sales (TTM)Rs 12,582 Cr
Net sales (latest year)Rs 11,903 Cr
Sales (latest quarter)Rs 3,368 Cr
Operating profit excl. other income (latest year)Rs 7,102 Cr
Operating profit (latest quarter)Rs 2,073 Cr
Other income (TTM)Rs 1,644 Cr
EBITDA (TTM)Rs 9,048 Cr
PBDT (TTM)Rs 2,427 Cr
Profit before tax (TTM)Rs 1,525 Cr
Tax (latest year)Rs -123 Cr
Net profit (TTM)Rs 1,691 Cr
Net profit (latest year)Rs 1,504 Cr
Net profit (latest quarter)Rs 461 Cr
Depreciation (TTM)Rs 902 Cr
Depreciation (latest quarter)Rs 56 Cr
Interest (TTM)Rs 6,621 Cr
Cost of goods sold (latest year)Rs 2,125 Cr
Total expenditure (latest year)Rs 4,801 Cr
Total income (latest year)Rs 13,466 Cr
Share capitalRs 45 Cr
ReservesRs 28,103 Cr
Shareholders' fundsRs 28,149 Cr
Total assetsRs 110,546 Cr
Net blockRs 2,352 Cr
Capital work in progressRs 116 Cr
InvestmentsRs 9,814 Cr
ReceivablesRs 13 Cr
Other liabilitiesRs 2,409 Cr
Shares outstanding (crore)22.67
Ownership
Promoter holding44.22% (-1.94 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 27.1 is at the 67th percentile of its own 3.0-year range (median 4.9, low 2.0, high 53.1).
P/B 1.63 is at the 71th percentile (median 1.35).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPIRAMALFINNifty 50Difference
1 week-3.8%-2.8% -1.1 pts
1 month-9.1%-6.8% -2.3 pts
3 months-5.4%-7.6% +2.3 pts
6 months+10.3%+0.4% +9.9 pts
3 years+12015.6%+14.2% +12001.4 pts
5 years+12015.6%+27.9% +11987.7 pts
125 mutual fund schemes hold about ₹9,056 Cr. Over three months 111 bought more and 6 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Quant Small Cap Fund2.81%997 +3%
Kotak Mid Cap Fund1.28%914 +7%
HSBC Midcap Fund3.92%674 +13%
Kotak Large & Mid Cap Fund1.66%536 +14%
Kotak Multi Cap Fund0.97%284 -29%
Nippon India Growth Mid Cap Fund0.54%280 +100%
Motilal Oswal Flexi Cap Fund1.95%275 -22%
Axis Small Cap Fund0.86%269 +394%
Nippon India Value Fund2.32%210 +30%
Quant Value Fund9.96%194 +11%
Nippon India Small Cap Fund0.23%185 +43%
Quant Quantamental Fund10.54%172 +14%
Kotak Flexi Cap Fund0.29%164 +100%
Kotak Flexi Cap Fund0.29%163 +100%
Motilal Oswal ELSS Tax Saver Fund3.09%159 +5%
HSBC Large & Mid Cap Fund2.59%153 +23%
Motilal Oswal Multi Cap Fund3.18%149 +100%
ICICI Pru Banking & Fin Serv Fund1.31%148 +100%
ICICI Pru Banking & Fin Serv Fund1.31%147 +100%
Quant Momentum Fund9.31%126 -3%
Nippon India Banking & Financial Services Fund1.46%115 +11%
Franklin India Multi Cap Fund2.15%113 +7%
Kotak Focused Fund2.46%112 +100%
Kotak ELSS Tax Saver Fund1.71%109 +9%
Quant Business Cycle Fund10.88%108 +16%

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -179138% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 16% of total assets in 2026
explainLow interest cover Interest cover 1.2x in 2026
lookProfit leans on other income Other income was 113% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹3,368 Cr +27.6% vs Jun 2025. Net profit ₹461 Cr +67.0%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Bajaj Housing Finance Ltd67,70925.08.85 %
LIC Housing Finance Ltd30,1715.268.59 %
PNB Housing Finance Ltd28,64112.29.44 %
Aadhar Housing Finance Ltd18,96016.411.4 %
Sammaan Capital Ltd15,8534.92 %
Aptus Value Housing Finance India Ltd11,68611.915.4 %
Home First Finance Company India Ltd11,44319.711.1 %
AAVAS Financiers Ltd9,89914.49.92 %
Can Fin Homes Ltd9,7438.629.14 %
India Shelter Finance Corporation Ltd6,98613.212.9 %
Repco Home Finance Ltd2,1614.4910.1 %
GIC Housing Finance Ltd7234.607.71 %
SRG Housing Finance Ltd2216.4611.8 %
Reliance Home Finance Ltd76-432 %
Ind Bank Housing Ltd5113.0-1.11 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-12Dividend - Rs 11 Per Share
DateTypeWhat it says
2026-09-30Change in ManagementChange in Senior Management Personnel
2026-09-28Issue of SecuritiesOutcome of meeting of Committee of Directors (Administration, Authorisation & Finance) for issuance of NCDs on private placement basis
2026-09-24General UpdatesIntimation under Regulation 30 of SEBI Listing Regulations 2015 - Update on Insurance Commission Income of the Company
2026-09-23Investor PresentationInvestor Presentation
2026-09-23Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Middle East Roadshow (NDR)
2026-09-21Investor PresentationInvestor Presentation
2026-09-21Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Nuvama Emerging India CEO Forum
2026-09-21AllotmentAllotment of 1,10,000 securities pursuant to Non Convertible Debentures on Private Placement basis at its Committee meeting held on 21st September 202...
2026-09-19Shareholder meetingPiramal Finance Limited has submitted with the Exchange a copy of Voting Results and Report of the Scrutinizer on the Extraordinary General Meeting he...
2026-09-19Shareholder meetingSummary of the proceedings of the Extraordinary General Meeting held on Saturday, September 19, 2026
2026-09-18Investor PresentationInvestor Presentation
2026-09-18Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - JP Morgan India Financials Tour
2026-09-16Investor PresentationInvestor Presentation
2026-09-16Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Group Investor Meeting
2026-09-15Investor PresentationInvestor Presentation
2026-09-15Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Anand Rathi Annual Flagship Conference G-200 Summit 2026
2026-09-11CorrigendumCorrigendum to the Notice of Extra Ordinary General Meeting scheduled to be held on September 19, 2026
2026-09-11Press ReleasePress Release titled - Moodys Ratings upgrades Piramal Finance s rating to Ba2 from Ba3 ; Outlook - Stable
2026-09-11Credit RatingCredit Rating
2026-09-11Investor PresentationInvestor Presentation
2026-09-11Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Citi India Financials Investor Forum (Virtual)
2026-09-08Issue of SecuritiesOutcome of meeting of Committee of Directors (Administration, Authorisation & Finance) for issuance of NCDs on private placement basis
2026-09-07Concall / analyst meetIntimation of Schedule of Analyst/Investor Meeting under SEBI Listing Regulations - Branch Visit
2026-09-04UpdatesOutcome of meeting of Committee of Directors (Administration, Authorization and Finance) held today i.e. Friday, 4th September 2026.
2026-09-01UpdatesIntimation of meeting of Committee of Directors (Administration, Authorization and Finance) to be held on Friday, 4th September 2026 inter alia, to co...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Trade dateShares sold short
2026-09-2920
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-03NCLTReserve Bank of India. Vs Dewan Housing Finance Corporation Ltd.
2021-06-03NCLTReserve Bank of India Vs Dewan Housing Finance Corporation Limited
2021-06-03NCLTReserve Bank of India Vs Dewan Housing Finance Corporation Limited
2021-06-03NCLTReserve Bank of India Vs Dewan Housing Finance Corporation Limited
2021-06-03NCLTReserve Bank of India Vs Dewan Housing Finance Corporation Limited
2021-06-03NCLTKapil Wadhawan & Administrator of Dewan Housing Finance Corporation Limited IN Bank of Baroda & Ors Vs Dewan Housing Finance Corporation Lim
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Piramal Finance Ltd?

Piramal Finance Ltd (PIRAMALFIN) has a market capitalisation of Rs 50,343 Cr. at the 2026-10-01 close.

What is the P/E ratio of Piramal Finance Ltd?

Piramal Finance Ltd trades at a P/E of 112 on trailing twelve-month profit, at the 2026-10-01 close.

What were Piramal Finance Ltd's latest quarterly results?

In the Jun 2026 quarter, Piramal Finance Ltd sales was Rs 3,368 Cr (+27.6% vs Jun 2025) and net profit was Rs 461 Cr.

What is the 52-week high and low of Piramal Finance Ltd?

The 52-week high is Rs 2,326.40 and the 52-week low is Rs 1,260.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03